bankqbo is a Hubdoc alternative that converts PDF bank and credit card statements into a .qbo file for QuickBooks Online and Desktop. Free to start.
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bankqbo is a Hubdoc alternative built for one specific job: turning PDF bank and credit card statements into a real .qbo Web Connect file for QuickBooks Online and Desktop. Pricing is flat, there are no per-document credits to burn, scanned statements are read out of the box, and a free plan lets you test the import before you pay. Hubdoc, owned by Xero, still fits when you need broad capture of receipts, bills, and supplier documents, since it now comes bundled free inside most paid Xero business plans.
Last updated July 2026. Hubdoc's status, its bundling with Xero, and its document capture features were verified against xero.com/hubdoc and Xero Central this month; confirm current details before you buy.
Hubdoc captures bills, receipts, and statements. You email, scan, upload, or auto-fetch a document, Hubdoc reads the key fields with OCR, and the data plus the source image publishes into your cloud books. Since Xero acquired it, Hubdoc is offered free with paid Xero plans, and the standalone subscription for firms not on Xero has been retired, so it is now best understood as a Xero feature rather than a separate product. It has historically published to QuickBooks Online as well as Xero, so check the current QuickBooks connection on Xero's site before you rely on it. The trade-off for bank statement work is focus. Hubdoc is a general document collector that pushes data into cloud accounting, not a converter that hands you a portable .qbo file for both QuickBooks Online and Desktop. Here is how the two compare on statements specifically.
| Feature | bankqbo | Hubdoc |
|---|---|---|
| Best for | Converting bank and credit card statements to QuickBooks | Collecting receipts, bills, and documents for cloud accounting |
| Bank statement handling | Parses every transaction line and builds a bank-ready file | Reads statements as stored documents; not built as a statement-to-ledger converter |
| Pricing | Flat plan, free to start, no per-document metering | Bundled free with paid Xero plans; standalone plan retired |
| QuickBooks output | .qbo Web Connect for Online AND Desktop, plus Excel and CSV | Publishes data to the cloud (Xero, and historically QuickBooks Online); no .qbo file, no Desktop |
| Scanned / photo statements | Built-in OCR | Built-in OCR |
| Totals reconciled before export | Yes, on screen | No, manual review |
| Also captures receipts and bills | No, statements only | Yes, receipts, bills, and supplier documents |
| Setup | Upload a PDF, nothing to connect | Connect Xero (or QuickBooks) and set up document fetching |
The honest summary: Hubdoc is the better fit if you already run Xero and want one place to collect receipts, bills, and supplier documents at no extra cost, with the source images stored and the data published for you. bankqbo is the better fit when the real task is bank and credit card statements, you want a portable .qbo file that also imports into QuickBooks Desktop, and you would rather see the transaction totals reconciled on screen before anything reaches your books. They solve different problems; the overlap is only where a statement meets a converter.
Built for the statements US banks actually send, checked before it exports.
The converter adds up the transactions it parsed and matches that to the statement total before you export, so nothing is silently dropped.
Valid OFX 1.02 with QuickBooks Web Connect headers. Online and Desktop import it as a standard bank feed.
OCR runs before parsing, so a scanned or photographed paper statement comes out the same as a digital PDF.
Bulk upload for catch-up and cleanup work. Each file gets its own reconciliation check and its own exports.
Enter the password on upload. Multi-column and multi-page statement layouts are parsed too.
One conversion, three files: the .qbo for QuickBooks, an XLSX to review, and a CSV for everything else.
Three steps. No column-mapping wizard.
Drag in a PDF, a scan, or a phone photo. Password-protected and multi-page files are fine.
Every transaction is extracted and checked against the statement total. You see the parsed rows before exporting.
Download the .qbo and import it as a Web Connect bank feed. Excel and CSV are in the same download.
The specifics that decide whether the import is clean. If your case is not here, email [email protected].
The best Hubdoc alternative depends on what you actually process. For bank and credit card statements going into QuickBooks, bankqbo is the closest match because it outputs a reconciled .qbo file with no per-document credits. If you need broad receipt and bill capture like Hubdoc, Dext and AutoEntry are the nearest full-suite rivals, and DocuClipper handles very high statement volumes in the cloud.
Hubdoc is included free with most paid Xero business plans, so Xero subscribers pay nothing extra for it. The separate standalone Hubdoc subscription for firms not on Xero has been retired, which means access now runs through a paid Xero plan. Pricing and bundling change, so confirm the current arrangement on xero.com before you plan around it.
Historically yes. Hubdoc has published captured receipts and bills, with the data and source image, into QuickBooks Online as well as Xero. It is now a Xero-owned feature, so the QuickBooks connection can change; verify it on Xero's site before relying on it. bankqbo takes a different route and gives you a downloadable .qbo file you import yourself, which is why it also works with QuickBooks Desktop.
Not in the way a dedicated converter does. Hubdoc can capture a statement as a document and read summary fields with OCR, but it is built to collect and file receipts and bills, not to turn a full statement into a ledger-ready bank file. For a clean line-by-line import, bankqbo parses every transaction, reconciles the totals, and exports a .qbo for QuickBooks Online and Desktop.
Both are document capture suites for receipts and bills. Hubdoc is included free with Xero, so it is the natural pick for Xero users who want basic capture at no added cost. Dext, owned by IRIS, offers deeper extraction, tighter QuickBooks Online publishing, and firm-level tooling, at a price. For bank statements alone, neither is a converter; bankqbo does that job.
Yes. bankqbo has a free plan you can start on without a Xero or QuickBooks subscription. You upload a statement, see the parsed and reconciled rows, and confirm the .qbo imports cleanly into QuickBooks before paying anything. That lets you test output quality on your own statements first, which is useful if you are leaving Xero or just need statements converted without a full capture suite.
Yes. bankqbo produces a valid .qbo Web Connect file that imports into both QuickBooks Online and QuickBooks Desktop. In Desktop you bring it in through File, then Utilities, then Import, then Web Connect Files, exactly like a download from your bank. Every conversion also includes matching Excel and CSV copies in the same download for review or for another system.
Yes. bankqbo runs OCR before parsing, so scanned statements and phone photos are read line by line and come out the same as a digital PDF. Hubdoc also uses OCR across its documents. The difference for statements is that bankqbo checks the extracted totals against the statement, so a bad scan is flagged before you export rather than after it lands in your books.
Yes. bankqbo supports bulk upload, so catch-up work spanning twelve or more monthly statements can run in one batch. Each file gets its own reconciliation check and its own .qbo, Excel, and CSV output. This is a common reason bookkeepers reach for a focused converter during year-end cleanup or when onboarding a client whose books are months behind.
Upload a PDF, get a QuickBooks-ready .qbo back in seconds. No card to try it.
Convert your first statement in the tool at the top of this page. See the full bank statement to QuickBooks converter comparison, plus the Dext alternative, AutoEntry alternative, and DocuClipper alternative. Accountants running catch-up work should read bank statement to QuickBooks for accountants, and the PDF to QBO converter page covers the core conversion in detail.
Same converter, tuned for the layout each bank uses. Find yours:
For one bookkeeper running monthly close.
USD
per month
billed as
$288 yearly
Choose speed vs accuracy when extracting
| Base AI Faster | 2,500 pages |
| Pro AI Best accuracy | 500 pages |
For an accounting firm or finance team with steady volume. Adds QuickBooks .qbo export and bulk conversion.
USD
per month
billed as
$888 yearly
Choose speed vs accuracy when extracting
| Base AI Faster | 10,000 pages |
| Pro AI Best accuracy | 2,000 pages |
For lenders, audit firms and analysts running thousands of statements a month.
USD
per month
billed as
$ yearly
Choose speed vs accuracy when extracting
| Base AI Faster | pages |
| Pro AI Best accuracy | pages |
